Market Efficiency in Frontier Emerging Markets

Prelude to a hypothetical journey


In the context of this book the concept of market efficiency becomes relevant as it lends itself as a framework to examine the behavior of securities returns on a level which is of interest to the portfolio manager, whose mandate it is to outperform a benchmark, and who can profit from or exploit gross market inefficiencies. Secondly, it is important to the policy maker, whose mandate it is to steer and control the development of a newly emerging market in order to achieve the benefits of an efficient equity market.


Random Walk Stock Price Excess Return Equity Market Market Efficiency 
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Copyright information

© Kluwer Academic Publishers 1999

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